DSA Financial Corporation Declares a Quarterly Dividend and Reports Earnings for the First Quarter Ended September 30, 2016

Published on October 6, 2016

LAWRENCEBURG, Ind., Oct. 06, 2016 (GLOBE NEWSWIRE) — DSA Financial Corporation (OTCBB:DSFN) John P. Young, President and Chief Executive Officer of DSA Financial, announced today that the Company’s board of directors has declared a dividend on its common stock of $0.11 per share. The dividend is payable on November 8, 2016 to stockholders of record as of October 24, 2016.

DSA Financial also announced its financial results for the first quarter of fiscal year 2017. For the quarter ended September 30, 2016, the Company recorded net earnings of $203,000 or $0.13 per share. For the quarter ended September 30, 2015, the Company recorded net earnings of $190,000 or $0.12 per share, an increase of $13,000 or 6.8%.

The quarter-to-quarter increase in earnings was attributed primarily to an increase of $62,000 or 52.1%, in other income, partially offset by a $20,000 or 2.8%, increase in general, administrative and other expense, a $19,000 increase in total interest expense and a $10,000 increase in income taxes. Other income for the three month period ended September 30, 2016 included gains on sale of loans that were $45,000 greater than the three month period ended September 30, 2015.

DSA Financial reported total assets of $125.3 million at September 30, 2016, total liabilities of $107.3 million, including deposits of $96.6 million and total stockholders’ equity of $18.0 million.

DSA Financial Corporation is the holding company for Dearborn Savings Bank, a federally chartered savings institution headquartered in Lawrenceburg, Indiana. Dearborn Savings Bank operates through its main office and one branch office located in Lawrenceburg, Indiana.